Wednesday, January 5, 2011

Sarasota Real Estate Statistics

Have you ever seen real estate statistics on Zillow, Trulia, Realty Trac, or our area's "luxury leader", and wondered, "What the hell does all that gibberish mean?".

I decided it was time to put together meaningful data that real estate consumers can understand, and that relates to their needs when searching for and evaluating property.

I put together real estate statistics for the past four years for areas in Sarasota, Charlotte, and Manatee Counties that correspond to my neighborhood maps.  There you can see average sales prices, price per square foot, number of units sold, average time on the market, and list price to sales price ratio.  These are for single family homes only.

Why did I pick these metrics?  I approached this as I would a CMA, or as a real estate or mortgage appraiser would, by looking at values to determine trends and prices.  Time on the market and LP/SP ratio are excellent indicators of a firm or soft market, and the data I compiled points to some interesting trends.  I also thought that out-of-town buyers would find the price per square foot differences interesting, for example, when comparing property on the barrier islands.

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